Prime Minister Narendra Modi on Monday launched a one-stop portal for Micro, Small and Medium Enterprise (MSME) sector - Champions.gov.in. CHAMPIONS stands for Creation and Harmonious Application of Modern Processes for Increasing the Output and National Strength.
The focus areas of this technology platform are support and hand-holding, grievance redressal, harnessing entrepreneurial talent and discovering new business opportunities, said PM Modi.
The portal is said to be technology-packed control room-cum-management information system. It is enabled by Artificial Intelligence, Data Analytics and Machine Learning along with ICT tools including telephone, internet and video conference.
The detailed objectives of the portal are to resolve the problems of MSMEs including those of finance, raw materials, labor, regulatory permissions etc particularly in the COVID created difficult situation, to help them capture new opportunities including manufacturing of medical equipments and accessories like PPEs, masks, etc and supply them in National and International markets and to identify and encourage the sparks i.e. the potential MSMEs who are able to withstand the current situation and can become national and international champions, reads a report on narendramodi.in
Meanwhile, the Union Cabinet on Monday approved the modalities for implementing Rs 50,000 crore equity infusion to support Micro, Small and Medium Enterprises (MSMEs), which was announced last month as part of AtmaNirbhar Bharat Package last month to help the sector cope up with the situation created by COVID-19.
It also approved Rs 20,000 crore subordinate debt for stressed MSMEs and a new definition for MSME under which enterprises with investments up to Rs 20 crore and a turnover of less than Rs 250 crore will now be defined as 'medium' units.
Briefing the media about the decisions, Information and Broadcasting Minister Prakash Javadekar said that provisions have been made for equity infusion of Rs 50,000 crore to support MSMEs for the first time. It will be done through a Fund of Funds.
(With ANI inputs)